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dc.contributor.authorAuboin, Marcen
dc.contributor.authorRuta, Michelen
dc.date.accessioned2011-11-22-
dc.date.accessioned2012-04-26T12:02:39Z-
dc.date.available2012-04-26T12:02:39Z-
dc.date.issued2011-
dc.identifier.pidoi:10.30875/13e83562-en-
dc.identifier.urihttp://hdl.handle.net/10419/57610-
dc.description.abstractThis paper surveys a wide body of economic literature on the relationship between currencies and trade. Specifically, two main issues are investigated: the impact on international trade of exchange rate volatility and of currency misalignments. On average, exchange rate volatility has a negative (even if not large) impact on trade flows. The extent of this effect depends on a number of factors, including the existence of hedging instruments, the structure of production (e.g. the prevalence of small firms), and the degree of economic integration across countries. Exchange rate misalignments are predicted to have short-run effects in models with price rigidities, but the exact impact depends on a number of features, such as the pricing strategy of firms engaging in international trade and the importance of global production networks. This effect is predicted to disappear in the long-run, unless some other distortion characterizes the economy. Empirical results confirm that short-run effects can exist, but their size and persistence over time are not consistent across different studies.en
dc.language.isoengen
dc.publisher|aWorld Trade Organization (WTO) |cGenevaen
dc.relation.ispartofseries|aWTO Staff Working Paper |xERSD-2011-17en
dc.subject.jelF10en
dc.subject.jelF31en
dc.subject.jelF55en
dc.subject.jelO19en
dc.subject.jelG21en
dc.subject.jelG32en
dc.subject.ddc330en
dc.subject.keywordexchange ratesen
dc.subject.keywordvolatilityen
dc.subject.keywordmisalignmentsen
dc.subject.keywordinternational tradeen
dc.subject.stwWechselkursen
dc.subject.stwAußenwirtschaften
dc.subject.stwVolatilitäten
dc.titleThe relationship between exchange rates and International Trade: A review of economic literature-
dc.typeWorking Paperen
dc.identifier.ppn672646870en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:wtowps:ERSD201117en

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